Which '47 do you have, Art Deco body or Advance Design? It does make a difference. On the Art Deco truck, the clutch and brake pedals mount to the bellhousing, whcih makes things more difficult. If it is the Advance Design, then doing the bellhousing swap should work. I beleive that some alterations to the crossmember is needed to use that bellhousing, as they are shaped different.
Another option would be to consider a 261, which is a bolt in using the existing bellhousing.
